#BTCUPDATE - 12.6.21
As outlined in yesterday's analysis if we couldn't break $38k again then there would be a big rejection - target to $34.2k still stands although we could see this $35.4k hold - I do feel there will be a short -term press up to $39k-$40k region. I do feel there will be a strong bounce coming though.
Long-Term it is looking like a ranging accumulation phase for BTC that could be up to another month or two now before any major moves out of the 30k-40k zone.
The reality is right now there is not a huge amount of money flowing into ALT's and during this ranging period not much will change.
It's incredibly important to be aware of what BTC is doing and when there are 2 or more scenarios on the BTC updates then it is equally as important to react accordingly within your own trades, especially during market conditions like these.
Market is pretty choppy at the moment and ALT's are really struggling to regain volume right now.
As outlined in yesterday's analysis if we couldn't break $38k again then there would be a big rejection - target to $34.2k still stands although we could see this $35.4k hold - I do feel there will be a short -term press up to $39k-$40k region. I do feel there will be a strong bounce coming though.
Long-Term it is looking like a ranging accumulation phase for BTC that could be up to another month or two now before any major moves out of the 30k-40k zone.
The reality is right now there is not a huge amount of money flowing into ALT's and during this ranging period not much will change.
It's incredibly important to be aware of what BTC is doing and when there are 2 or more scenarios on the BTC updates then it is equally as important to react accordingly within your own trades, especially during market conditions like these.
Market is pretty choppy at the moment and ALT's are really struggling to regain volume right now.
